Tag Archives: expansion

AMC challenges Regal Entertainment with $400M IPO

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A battle of  movie theater titans is starting to take shape.
AMC Entertainment, the second largest movie theater network in the country after Knoxville-based Regal Entertainment Group, recently announced plans for a $400 million initial public offering.
Proceeds from the IPO are earmarked for expansion and debt payments.
AMC hasn’t offered details of its growth plan, but Regal will undoubtedly be keeping a close eye on the Kansas-based company’s expansion.
AMC was bought last year by Chinese billionaire Wang Jianlin’s Dalian Wanda Group for $2.6 billion.
Wanda bills itself as the largest movie theater operator in the world.
While Wanda may be the world’s biggest, but Regal has a considerable lead over AMC when it comes to the U.S.
AMC currently operates 342 theaters with 4,941 screens in the U.S., according to its website. Regal has 7,340 screens in 576 theaters. Virtually all of Regal’s screens are in the U.S. mainland, although it also has theaters in Guam, Saipan and American Samoa.
Speaking of selling stock, Regal announced Tuesday a secondary offering of 2 million shares of National CineMedia. Regal is a founding member of National CineMedia, a digital in-theater network that offers advertising and special events.
Click here for Bloomberg’s take on AMC’s IPO.

FedEx looking at European expansion?

Talk is heating up that Memphis-based FedEx Corp. will make a bid for European shipping company TNT Express.

TNT late last week rejected an offer from FedEx competitpor UPS.

Here’s some of the speculation on FedEx:

Bloomberg: FedEx Seen as Possible TNT Suitor

Wall Street Journal: Will There Be A Bidding War for TNT Express?

Scripps Networks looks at UK expansion

Lifestyle media company Scripps Networks Interactive Inc. apparently is considering another international expansion.

Published reports in the United Kingdom indicate Scripps Networks, which announced recently it will move its corporate headquarters to Knoxville, is one of two U.S. companies interested in buying Virgin Media’s stake in UKTV, a pay-TV business.

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Is the U.K. ready for Ruby Tuesday?

Maryville-based Ruby Tuesday and two other American restaurant chains — Taco Bell and Chipotle Mexican Grill — recently entered the British market for the first time.

All three are expected to open multiple locations in the U.K., but they could face tough sledding, according to a report in The Independent, a London newspaper and website.

“However, success is not assured. Pizza Hut and KFC, which are also owned by Yum Brands, and McDonald’s have found the UK a welcome home, but some big hitters from across the pond have retreated with their tails between their legs,” The Independent story says.

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Scripps Networks global push paying off

Scripps Networks Interactive Inc. is taking international expansion serious. This week the cable television and Internet content company continued its global push with announcement of a licensing agreement with London-based Passion Distribution.

Passion will license Food Network, HGTV and DIY Network programming “to entertainment channels throughout the world,” according to a Scripps Networks press release. Shows that will be licensed include, HGTV’s Design Star and Food Network’s Ace of Cakes, Scripps said.

Scripps international campaign should be good for Knoxville, given that its production operations are based here. The company’s corporate headquarters are in Cincinnati.

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